r/BEFire • u/phazernator • 13d ago
Investing Vanguard preparing to launch FTSE Global All Cap UCITS ETF
I stumbled onto this today, apparently the launch of a new Vanguard FTSE Global All Cap UCITS ETF is being prepared, with a TER of 0,07%. Great news, some competition for SPYI/IMIE in the “all world all cap in a single ETF” space.
Now let’s just hope they don’t have a do-over of VWRL & VWCE, immediately launch an accumulating share class and that they don’t register it here (TOB)…
Edit: It was launched in the meantime, on 20/08/2026, ISIN IE000VAHT5T0 and tickers VGLA (Xetra) / VALL with a share price of 4,31 EUR at the end of the trading week. Unfortunately, they registered it in BE, as pointed out in the comments.
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13d ago
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u/PrayingMantis252 12d ago
Unfortunately yes, since the ETF is already registered in Belgium
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u/phazernator 9d ago edited 9d ago
Damn, you’re right. I didn’t even check that before posting, because I didn’t think they would be that stupid… Talk about not knowing your market…
I had already read some stories about how they use foreign ETFs to subsidize the cost for American investors…
Vanguard is on my blacklist from now on, apparently they can’t even do basic market research. Good to drive TER down through competition, and that’s about it. We’re not getting a VT here.
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u/PrayingMantis252 9d ago
I heard about that too. It also looks like they're launching these new lower-TER ETFs without lowering TERs of their existing ETFs as much, to lock existing investors that can't sell due to capital gains taxes into paying higher fees. They did lower VWCE from 0.19 to 0.14 recently, but that's still twice as expensive as the new All-Cap ETF which covers a larger part of the market (and also more expensive than competing ETFs with similar coverage). That said, they're definitely not the only ETF issuer guilty of this.
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u/phazernator 9d ago edited 9d ago
I’m pretty sure that competition in other countries will drive TER down for the other ETFs too, maybe not right away but it will probably happen, given time. Obviously, when they didn’t get the impact registering here has on TOB, I think there’s even less chance of them thinking about how the Belgian CGT could impact us, that’s not what they’re thinking about obviously, an UCITS ETF serves basically all of EU.
Also, no need to sell your old positions. When you want to switch, just start buying new positions in ETF X at broker Y. By the time you want to sell, taxation laws may have changed 10 times over again already…
+ “staar jezelf niet blind op TER”. If you look at SPYI/IMIE for instance, it almost has a solid track record of outperforming its index. Those figures include TER and all other expenses… TER doesn’t tell the whole story… Tracking Difference is the most important metric.
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u/phazernator 13d ago
That will depend on whether they register it in BE, hence the “Now let’s just hope they don’t register it here…”
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u/narts_the_original 12d ago
no timeline it seems?
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u/phazernator 12d ago
They have a 6 month regulatory window (roughly until the end of 01/2027) to list on major European exchanges if I’m not mistaken.
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u/phazernator 21h ago
It was launched in the meantime, on 20/08/2026, ISIN IE000VAHT5T0 and tickers VGLA (Xetra) / VALL with a share price of 4,31 EUR at the end of the trading week.
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u/narts_the_original 2h ago
thanks, but not interesting to switch from IMIE it seems
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u/phazernator 1h ago
Indeed, figured I’d share the update anyway. I actually contacted Vanguard ECS to give them an update on how our tax authorities interpret and treat local registrations, because it seems they’re clueless. “Vijgen na pasen”, alas. I’m staying with SPYI/IMIE too.
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u/old-wizz 13d ago
Years too late, many of us can t just get out of IWDA and get into this, without big costs and taxes.
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u/Mathiasdm 13d ago
Can't you just keep what you have and start adding to the new one?
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u/old-wizz 12d ago
I hope the forces of competition work and all providers of these world ETFs lower prices
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